Share via

The Bank of England has boosted the scope and generosity of its Funding for Lending Scheme in a bid to sharply accelerate lending to small and medium-sized enterprises.

In a keenly awaited announcement, the Bank said it will extend the availability of cheap credit to lenders to the start of 2015 and dramatically improve the terms it offers to firms that extend credit to SMEs.

The FLS will also now be extended to buy-to-let mortgage lenders, as well as non-bank providers of credit to firms including finance leasing companies.